He was initially appointed as the chief executive office starting with Ascot in January, with the intention that he would be appointed as director before 1 April 2013.
Caruso has over twenty years' experience in the mining industry including stints at BHP Coal in Queensland.
For the past two and half years, he was CEO of Crosslands Resources, which is developing the Jack Hills iron ore expansion project in Western Australia.
Prior to that, he was the managing director of Australasian Resources (ASX: ARH) which is developing the Balmoral South iron ore project also in Western Australia.
Meanwhile, Faldi Ismail has resigned as a non-executive director. He was the founding director and shareholder of Ascot Resources.
Recently, the company unveiled plans to fast track the development of a recently acquired project in coal rich Colombia.
The Titiribi Project, which was acquired in mid-2012, is located in an established mining region within the State of Antioquia, Colombia only 70 kilometres from the State Capital Medellin, 10 kilometres from the town of Titiribi and close to all existing utilities and infrastructure.
The Project consists of 3 mining licences with an option over three more adjoining concessions that in total cover approximately 700 hectares and all within a region that hosts a number of coal bearing formations.
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